It still needs to be paid back. If the cardholder dies and leaves an inheritance and has heirs, the credit card debt will be repaid by the heirs. If there is only an inheritance and no heirs, the bank needs to apply to the bank to use the inheritance to offset the credit card debt.

For example, if there is a marriage relationship, then the cardholder dies and there is no agreement on personal debts within the marriage, the spouse needs to repay the debt. If you die without a spouse or inheritance, the bank will have to deal with bad debts.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

A real credit card has the following characteristics: it is not encouraged to deposit cash in advance, consume first and repay later, enjoys an interest-free payment period, can repay in installments independently (with a minimum repayment amount), join VISA, MASTER Wait for international credit card organizations to make it universally applicable.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed.

Individuals applying for credit cards must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank.

Credit cards generally have no interest for repayment on time and in full. In addition, overdraft cash withdrawals also charge a certain amount of interest and handling fees. The interest is calculated on a daily basis, which is also 0.5%. It starts from the day when the cash is withdrawn. The interest will start to be calculated, and the handling fee will be charged at 0.5 (minimum 2 yuan/transaction).

If you can control your credit card consumption and repay it on time every month, your credit card will always be interest-free. You only need to pay the bank the amount you spent without interest

Overdue repayment or If the loan is not repaid in full, the bank will charge interest.

In this case, credit card interest is calculated from the date the consumption is recorded. Interest is charged at 0.5% per day and compound interest is calculated on a monthly basis. In other words, if this month’s interest is not paid off, the interest will be charged next month. Monthly interest will also accrue interest

In addition to interest, failure to repay on time using a credit card will also incur other charges, such as late fees for overdue repayments. Cardholders must Be aware of credit card fees.